![]() ![]() Queensland Pacific Metals CEO Stephen Grocott said "GM’s investment in our company and the associated offtake brings us one step closer towards construction of the TECH Project." ![]() GM said the "new collaboration builds on those commitments as we look to secure supply through the end of the decade, while also helping continue to expand the EV market." GM already has binding agreements securing all battery raw material supporting its goal of 1 million units of annual capacity in North America by the end of 2025. High-grade nickel laterite ore will be imported from nearby New Caledonia, GM said. The GM investment is to assist in the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. Under a law passed in August, automakers must source battery minerals from countries with free trade agreements in order to qualify for the U.S. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. GM said the investment will help support EV eligibility for consumer incentives under new, clean energy U.S. WASHINGTON - General Motors said on Tuesday it will invest up to $69 million and take an equity stake in Queensland Pacific Metals to secure a new source of nickel and cobalt for battery cells for use in the U.S. ![]()
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